Legal controversy has surrounded the Estate of Michael Jackson ever since he died almost two years ago. Trial & Heirs did a year in review article last year; it’s almost time for year two. You can now add a new lawsuit — over $17.5 million worth of insurance — to the list.

Concert promoter AEG Live took out the large insurance policy over Michael Jackson in case he died and was unable to perform the “This Is It” concert tour. Of course, that’s exactly what happened, showing that AEG was smart to take that precaution. Reportedly, AEG spent some $20 to $25 million on the tour before the King of Pop’s death, and this insurance was supposed to protect that investment. Both AEG and a Michael Jackson limited liability company that is controlled by the Estate were named as beneficiaries eligible to collect that money under the policy.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access